Condemns Pakistan parliament resolution on Quader Molla
The Federation of Bangladesh Chambers of Commerce and Industry on Sunday demanded loan rescheduling facility for all businesses which was recently allowed for the SME sector.
The FBCCI said the Bangladesh Bank recently allowed the small and medium enterprises to enjoy the rescheduling facility by relaxing the down payment provision which should be applicable for all other industries, commercial entity, exporters and service providers.
In a board meeting, the FBCCI directors also condemned a resolution taken by Pakistani parliament recently condemning the execution of Abdul Quader Molla by Bangladesh for war crimes in 1971.
The FBCCI passed a condemnation resolution against such move of the Pakistan government and said the resolution should be withdrawn considering future business possibilities with Bangladesh.
It said the ongoing political crisis and repeated strikes and blockades were affecting the business environment seriously.
In such a situation, the businesses could not transport their raw materials to the factories for the blockade which creates stagnancy in the production, it said.
The FBCCI said in the backdrop of this situation the businessmen could not operate their loan accounts properly which is creating additional problem for them and the BB should consider the matter.
As per the existing rules, a client has to pay at least 10 per cent down payment of the total loans volume to reschedule it for the first time and the banks take 30 per cent down payment for the third time reschedule of any defaulted loan.
The BB recently allowed SMEs to reschedule their loans in a relaxed manner for the next six months.
The clients would be able to reschedule any SME defaulted loans without any down payment, if the banks agree, a BB circular said.
The SME clients will also get the block account facility for their existing loans on the bankers-customer relationship, it said.
The FBBCI also demanded that the interest spread should be 3 per cent for all industries and the BB should allow opening letters of credit at zero per cent margin for next two years.
It demanded the BB should allow 15 years rescheduling facility for the term loan and 10 years for working capital.
It also demanded that the government should not cut the utility lines of any commercial entity for their outstanding dues considering the recent political unrest, adding that, the business people should not be harassed for any such dues.
The FBCCI demanded that the government should lower the value added tax and other taxes for all businesses by June 2014 considering the same ground.
The apex business body said it would put forward the demands to prime ministry Sheikh Hasina soon to ensure better business environment.
-With New Age input
